Everything you need to know about the Wells Fargo Active Cash card
Understanding the Wells Fargo Active Cash Card
The Wells Fargo Active Cash Card is a credit card that stands out due to its beneficial qualities such as a significant cash rewards sign-up bonus, a 0% introductory APR, and an offering of 2% cashback on all purchases, all without an annual fee.
While travel credit cards may provide perks like free flights and hotel credits, the straightforward nature of cash-back credit cards is what truly makes them standout.
Unlike rewards cards, cash-back cards do not require you to understand the intricacies of redeeming points or miles. Most of them also do not have an annual fee.
Furthermore, flat-rate cash-back cards are hassle-free as you always receive a constant percentage of your money back, irrespective of your expenditure.
Functioning of the Wells Fargo Active Cash Card
The Wells Fargo Active Cash Card does not have an annual fee and grants unlimited 2% cash reward on purchases, placing it in direct competition with the best flat-rate cash-back cards on the market.
An introductory 0% APR on purchases and eligible balance transfers last for 15 months, post which an APR of 17.99%, 22.99%, or 27.99% applies.
Balance transfers made within 120 days qualify for the introductory rate and fee of 3%, followed by an up to 5% fee with a minimum of $5, making it a suitable card for balance transfers despite the transfer fee.
Apart from other flat-rate cash-back cards offering 2%, the Active Cash card sets itself apart with its user-friendly design and easy reward accumulation.
Also included with this card are privileges like access to Visa Concierge, the Visa Signature Luxury Hotel collection, and benefits for cell phone protection.
Although short on additional features, this card is ideal for those who prioritize earning cash-back and do not require extra perks.
The most flexible cash rewards card option is a flat-rate card as it generally permits you to earn unlimited rewards on almost all purchases without the worry of bonus categories or spending caps.
The Wells Fargo Active Cash credit card, being easier for beginners to navigate than high-maintenance bonus category cards, might be crucial for maximizing your cash rewards.
Perks of the Wells Fargo Active Cash Card:
2% cash back + Sign-up bonus
A card that earns 1.5% cashback needs something unique to set it apart.
Despite an increase in cards offering 2% cash back, the Wells Fargo Active Cash Card shines due to its sign-up bonus, which provides $200 in cash rewards after making purchases worth $1,000 within the first three months.
Depending on your expenses, a 1.5% card can outdo a 2% card, whereas most other cards offer 2% back without a sign-up bonus unlike the Wells Fargo Active Cash Card.
Multiple redemption choices
You have the option to use your cash-back rewards in four different ways:
- Credits in your account.
- $20 withdrawal from a Wells Fargo ATM using a Wells Fargo Debit or ATM card.
- Direct deposits into your Wells Fargo bank or savings account.
- Delivery of a paper check via snail mail.
No yearly charge
Although yearly fees are common for premium rewards cards, they do decrease the annual value of these cards.
Since the Wells Fargo Active Cash Card does not have an annual fee, it’s easy to maintain for a longer duration.
0% introductory APR deal
The Wells Fargo Active Cash Card provides a lengthy period free of interest, which is beneficial if you intend to make a substantial purchase to be paid off over time or transfer debt from a high-interest card.
Post 15 months of introductory APR-free purchases and eligible balance transfers, there’s an ongoing variable APR of 17.99%, 22.99%, or 27.99% that becomes applicable.
How to Procure a Wells Fargo Active Cash Card?
If you find the wide range of benefits that this card has to offer to be of interest, check out our guide on how to apply for the Wells Fargo Active Cash Card.
